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Mortgage rates ease further
30-year fixed loan rate dips to 5.67 percent; 15-year also falls, markets see inflation in check.
January 20, 2005: 12:12 PM EST

NEW YORK (CNN/Money) - Mortgage rates fell further this week, as investors believe the Federal Reserve will manage to keep inflation in check, mortgage firm Freddie Mac said Thursday.

Mortgage Rates
30 yr fixed 3.95%
15 yr fixed 3.08%
5/1 ARM 3.43%
30 yr refi 4.04%
15 yr refi 3.17%

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Rates provided by Bankrate.com.

The average rate on 30-year fixed-rate mortgages fell to 5.67 percent this week, with an average 0.7 of a point payable up front, down from 5.74 percent last week. A year earlier, the rate on the 30-year fixed-rate loan stood at 5.64 percent.

The average 15-year mortgage rate eased to 5.15 percent, with a 0.7 percent payable up front, from last week's 5.19 percent. The rate averaged 4.95 percent a year ago.

"Financial markets see inflation as being well managed by the Fed, and that allows long-term interest rates to remain low, with mortgage rates even falling a little more this week," Freddie Mac vice president and chief economist Frank Nothaft said in a statement.

"With housing starts in December near record levels, and November starts revised upward, the housing industry looks like it will remain vibrant in 2005," he added.

Five-year adjustable-rate mortgages (ARMs) were unchanged from last week, averaging 5.05 percent this week, with an average 0.6 point. No data is available for a year earlier comparison.

Meanwhile, one-year ARMs ticked higher to 4.11 percent on average from 4.10 percent. The loans call for 0.6 of a point up front. At this time last year, the one-year ARM rate averaged 3.56 percent.

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Freddie Mac's (down $0.85 to $68.56, Research) average mortgage rates are based on a survey of 125 lenders nationwide. Freddie Mac is a publicly traded corporation established by Congress to create a flow of funds to mortgage lenders to support of home ownership nationwide.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.